The global market revenue is expected to expand at a lucrative CAGR over the forecast period. Increasing consumption of steel across emerging economies to increase infrastructure development activities is a key factor supporting growth of the global air separation plant market.
The global market report has been segmented on the basis of process, gas, application, and region.
On the basis of process, the target market is segmented into cryogenic distillation process and non-cryogenic distillation process. Cryogenic distillation process segment is expected to register significant share in terms of revenue over the forecast period. This process is used in medium to large scale plants to separate nitrogen, oxygen, argon and other atmospheric gases in liquid or gaseous form.
On the basis of gas, the target market is segmented into nitrogen, oxygen, argon, carbon dioxide, and others. The increased demand for nitrogen in the food & beverage industry, for cooling and preserving purposes in a wide variety of applications, driving the growth of the target market.
On the basis of application, the target market is segmented into chemical, oil & gas, paper, metallurgy and others. Oil and gas segment is the leading generator of revenue in the global market.
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Based on the region the target market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in Asia Pacific is estimated to be highest share in terms of revenue over the forecast period, owing to flourishing industrial sector in emerging economies such as China and India. The global market is presented with massive growth opportunities and is observing the entry of a number of new players, owing to high demand for pure air gases.
Key players operating in the global air separation plant market include Linde AG, Air Liquide S.A., Praxair, Inc., Taiyo Nippon Sanso Corporation, Air Products and Chemicals, Inc., Messer Group GmbH, Enerflex Ltd., Gas Engineering LLC., Universal Industrial Gases and Technex Limited.
In 25 July 2018, Praxair has started production at two new air separation plant to supply China National Offshore Oil Corporation (CNOOC) with oxygen and nitrogen